zato and PTM two of India's most recognizable Brands one of them is selling to another not their whole business but a part of it you may have heard of PTM Insider it is basically PM's Entertainment app movie tickets concert tickets sports tickets you can buy all of them on PM Insider and zato is buying this business both companies announced the deal this week zomato is paying around 2,000 CR Rupees to pm that's $238 million now I know you have questions zato is a delivery business they deliver food and groceries to your home but PTM Insider
is more about going out so what explains this deal well zomato is diversifying this month they unveiled a new mobile application it's called District this app will consolidate zomato's outdoor business whether it's dining out or movie tickets or Sports tickets users can still find ticketing options on patm for the next 12 months after that it will migrate to zomato's new app so that explains zomato's decision they're expanding Beyond home delivery but what about PTM why are they selling this business ticketing generated almost 300 crores in revenue for PTM profits were close to 30 CR rupees
so it wasn't bleeding money then why are they trying to sell it or why did they sell it maybe because patm wants to focus on their Core Business which is finance you may may remember what happened earlier this year PTM ran into trouble with Regulators they had to shut down PM's payments Bank perhaps that was a wakeup call for the company a reminder to focus on finance and markets approve of this zato shares were up 2% today PTM shares were up around 0.3% so shareholders welcome this deal but questions remain especially for zamato and other
food delivery companies look at the last quarter zamato posted 4,200 CR rupees as Revenue out of which profit was 253 crores it's a big jump compared to the last quarter but look who's contributing to that jump zato's Food business Revenue was up 10% but quick Commerce Revenue was up 222% and that's blinket so blinket is growing much faster than food delivery and that's in line with Market predictions most experts say that food delivery's golden age is over that growth will be subdued zato tried new ways to beat this trend you may remember their inter city
option you could buy food from other other cities well yesterday they scraped it because it never really took off which is why zomato is brunching out to Quick Commerce and ticketing they want to add 1,000 new blinket warehouses by the end of this financial year they're pumping in money to almost 300 CR rupees in this financial year so zomato expects blinket to be a cash cow maybe it expects the same with with PM ticketing and they have the tools to do it experts say zomato could integrate their businesses just think about it food delivery at
sports events or food orders at movie Halls the opportunities are endless all you need is a big bang event to kick it off and zato is doing that too their CEO posted this message today zato is organizing a concert in Mumbai on the 30th of November the feeding India concert and guess who's helping headlining it du alipa it's clearly a strategically planned announcement zato acquired PM's business on Wednesday the concert was announced on Friday chances are it will bring a lot of traffic to their ticketing business but even otherwise this industry is growing you see
India's middle class is expanding our disposable income is rising so Live Events will become more popular like comedy shows or sports leagues or live plays but this rise also has a Down side right now only two players dominate this space bookm show and PTM they make up 90% of all online Multiplex bookings that sort of dominance has side effects Indian courts have criticized bookm show in the past they've been accused of imposing unfair charges like internet handling fees what whatever that means so this acquisition has many factors and consequences zato's dream is to become India's
lifestyle platform for food for movies for concerts for anything outdoors or indoors it's an ambitious dream that won't be easy to [Music] realize across continents one powerful news [Applause] source bringing you diverse perspectives on the issues that matter [Music] we go beyond the boundaries to give you that little extra about every sporting [Music] moment so thank you for making first post 5 million strong we're counting on your support and you can trust us to bring you the news unfiltered and unvarnished climate change is on our doorstep it's time for a revolution to take Route and
it starts with 1.4 billion Indians it starts with one tree one tree for Humanity one tree for Mother Earth one tree for a future project one tree a news8 network [Music] initiative on this today the T20 World Cup bang move across to the west east hello I'm Al coming to you from South Africa today we have a special we start with an report on India nulear for the first time since off became a nule hello and welcome to First po America I'm micam coming to you live from the nation's capital of Washington DC [Music]
